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N.Y. PTR Law § 121-302

This is the official text of N.Y. PTR Law § 121-302, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.

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Classes and voting by limited partners

Official statutory text

§ 121-302. Classes and voting by limited partners. (a) A partnership\nagreement may provide for classes or groups of limited partners having\nsuch relative rights and powers as the partnership agreement may\nprovide, and may make provision for the future creation in the manner\nprovided in the partnership agreement of additional classes of limited\npartners having such relative rights and powers as may from time to time\nbe established pursuant to the partnership agreement including rights\nand duties senior to existing classes of limited partners. The\npartnership agreement may grant to or withhold from all or one or more\nclasses of limited partners the right to vote, on a per capita, class or\nother basis, upon any matter.\n (b) A partnership agreement which grants a right to vote may set forth\nprovisions relating to notice of the time, place or purpose of any\nmeeting at which any matter is to be voted on by any limited partners,\nwaiver of any such notice, action by consent without a meeting, the\nestablishment of a record date, quorum requirements, voting in person or\nby proxy, or any other matter with respect to the exercise of any such\nright to vote.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.